Ruh-roh... Paradise Papers Pretty-much Panama Papers Part II

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Ruh-roh... Paradise Papers Pretty-much Panama Papers Part II

Postby blehblah » Sun Nov 05, 2017 8:42 pm

http://www.cbc.ca/news/business/paradis ... -1.4387338

An enormous new leak of tax-haven financial records — rivalling the Panama Papers in size and scope — is laying bare some of the financial secrets of the world's elite, from the Queen to Prime Minister Justin Trudeau's chief fundraiser to U.S. President Donald Trump's commerce secretary, along with more than 120 politicians across the globe.

The 13.4 million records in what is being dubbed the Paradise Papers come largely from Appleby, one of the biggest offshore law firms on the planet, which was founded in Bermuda and has branches in tax havens around the world.

The records expose the assets and sometimes murky dealings of a host of characters, as well as the ways corporate giants like Apple, Nike and Uber avoid taxes legally through increasingly creative bookkeeping.


https://www.nytimes.com/2017/11/05/worl ... apers.html

It’s called the Paradise Papers: the latest in a series of leaks made public by the International Consortium of Investigative Journalists shedding light on the trillions of dollars that move through offshore tax havens.

The core of the leak, totaling more than 13.4 million documents, focuses on the Bermudan law firm Appleby, a 119-year old company that caters to blue chip corporations and very wealthy people. Appleby helps clients reduce their tax burden; obscure their ownership of assets like companies, private aircraft, real estate and yachts; and set up huge offshore trusts that in some cases hold billions of dollars.

The New York Times is part of the group of more than 380 journalists from over 90 media organizations in 67 countries that have spent months examining the latest set of documents.


Former Canadian Prime Ministers, The Queen, Vladdy Putin, and of course, folks connected to Trump.

http://www.bbc.com/news/world-us-canada-41876939

A top member of Donald Trump's administration has business links with Russian allies of President Vladimir Putin who are under US sanctions, the Paradise Papers have revealed.

Commerce Secretary Wilbur Ross has an interest in Navigator Holdings, which earns millions a year transporting oil and gas for Russian energy firm Sibur.

Two major Sibur shareholders are under some form of US sanctions.

A commerce department spokesman did not dispute the revelations.


Man, rich people really have a lot of shit going-on, huh?
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Re: Ruh-roh... Paradise Papers Pretty-much Panama Papers Par

Postby Krashlia » Sun Nov 05, 2017 10:19 pm

I'm not certain that The Queen is under tax obligations.
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Re: Ruh-roh... Paradise Papers Pretty-much Panama Papers Par

Postby blehblah » Tue Nov 07, 2017 12:08 am

Krashlia wrote:I'm not certain that The Queen is under tax obligations.


True.

https://en.wikipedia.org/wiki/Finances_ ... y#Taxation

The people who invest in such things don't always know what they are investing in. That is the result of both how much money they have, and how obfuscated large investment vehicles are.

In a perfect world, it would all be transparent, at least to the tax collectors.

Meanwhile, I'm going to shove my very own ten dollars into a thingy which may or may not involve the Cayman Islands and Cyprus.

I've already said too much about my ten dollars.

I don't have ten dollars.

We should really concentrate on tax reform, to make it fair between the people who have two physical pennies to rub together, and those who don't have physical money. Tax the mattresses, I say, fore the common folk are sitting on a goldmine of copper!
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Re: Ruh-roh... Paradise Papers Pretty-much Panama Papers Par

Postby DamianaRaven » Tue Nov 07, 2017 1:16 am

Krashlia wrote:I'm not certain that The Queen is under tax obligations.


This is a great video that explains the role of the royal family in the British economy:

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Re: Ruh-roh... Paradise Papers Pretty-much Panama Papers Par

Postby Marcuse » Sun Nov 19, 2017 3:20 pm

Krashlia wrote:I'm not certain that The Queen is under tax obligations.


She isn't. She does, however, pay a voluntary contribution to the exchequer which just so happens to be exactly the amount of income tax should would have had to pay were she a private citizen. Because our monarchy is devoted to being actually people you can have a positive opinion of sometimes. At least the Queen anyway.

In a wider sense, I feel like the media pushed this as a "big story" way too much. It's now two weeks on and the story of Zimbabwe has completely overriden any "revelations" from the papers and nobody is talking about them. I think that's largely because the people involved, whether we think what they did is moral or not, weren't breaking any laws. If the issue here is that the law is an ass, then they should be going to political leaders and asking them why they're allowing this to happen. I'm pretty sure the answer would be a shitty one, but they don't. I've read the Paradise Papers being described in magazines as the largest theft of corporate information ever, and part of me agrees. If they objective of this was investigative journalism, I'm not sure it's in the public interest to have the private dealings of companies acting within the law (even if the law is shit) being stolen and made public in this way.
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